New Delhi: Vi (Vodafone Idea) has introduced a new prepaid plan, which offers handset theft and loss insurance along with mobile recharge plans, the first of its kind in the Indian telecommunication industry. The new plans will enable prepaid users to have theft or loss insurance on their smartphones without purchasing an insurance policy.
The company indicated that the initiative responds to an increasing consumer issue with the rising cost of smartphones and their necessity, which is considered to be very crucial to their daily lives. Since accidental damage is the only feature on most insurance products, this new proposition by Vi addresses one of the gaps that are not covered in most cases.
Recharge-linked handset insurance
New programs offered by Vi include theft and loss insurance up to 25,000 on handsets. The insurance can be turned on automatically having a few prepaid recharges and is compatible with both Android and iOS. Customers do not have to make individual signups and do not have to make supplementary paperwork when making a purchase.
The claims will be done on a digital first basis. Vi reported that it will utilise already received customer information to streamline documentation and accelerate claim settlement and make the user experience smoother.
Why Vi sees demand for this service
Drawing on a report published by the Ministry of Statistics and Programme Implementation (MoSPI) in May 2025, Vi covered that 85.5 percent of the Indian households have at least one smartphone. Meanwhile, industry projections indicate that the handset insurance market may increase to $2.6 billion in 2025 as it is projected to grow by almost 14 percent per year.
In India, the average cost of replacing a mid-range smartphone is between Rs 20000 and Rs 25000. Vi said that its bundled insurance can enable the users to cover this financial risk at relatively low initial cost.
Pricing, benefits and availability
Vi is selling the insurance of handset theft and loss under three prepaid recharge packs. The Rs 61 charge offers 2GB data for 15 days with a 30-day insurance cover. The 10GB of data and 30 days of validity of insurance are available in the Rs 201 recharge with a 180 days of insurance. The Rs 251 charge will come with 10GB data and a year-long insurance cover.
Vi prepaid customers already have access to the plans in India. Vi claimed that it is the only telecom company in the country to introduce a handset theft and loss insurance solution that is recharged.